Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Victims of forced disappearance in Turkey

On this ‘International day of the victims of enforced disappearances’ (August 30), let’s raise our voices for the missing people of Turkey. In the aftermath of the coup attempt last year, at least thirteen people have been abducted allegedly by elements linked to the Turkish government as part of an intimidation campaign targeting critics and opponents of Turkey’s president.

What does religion have to do with corruption?

The ongoing graft investigation, which hit the press on Dec. 17 with a major police operation resulting in the arrest of 24 suspects — including prominent business figures and the sons of two ministers — sparked a public discussion on the links between politics and Islam, as a majority of the members of the ruling party present themselves as devout Muslims.

Peshawar High Court Restrains Federal Government From Deporting Turkish Teachers Of Pak-Turk School Till Dec 1

The petitioners submitted before the court that Pak-Turk schools had been imparting quality education to hundreds of Pakistani children. They said that the forced deportation of Turkish teachers and other staff members was illegal as they had been provided protection under the Constitution.

Yamanlar Koleji crowns Turkey with second gold medal

Furkan Bahar, a student from Yamanlar Koleji, a private high school in İzmir, has won a gold medal at the 46th International Chemistry Olympiad (IChO) held in Hanoi, Vietnam between July 20 and 28. IChO welcomed representatives from 77 countries. Bahar, a member of the national chemistry team appointed by the Scientific and Technological Research Council of Turkey (TÜBİTAK), became the winner of Turkey’s only gold medal in the competition.

Financial Times publishes Fethullah Gulen’s Op-Ed

Financial Times published an op-ed by the Turkish Muslim scholar and writer Fethullah Gulen*. His article is titled “Violence is not in the tradition of the Prophet” Gulen says “Muslims pray each day: “O Lord! Keep us on the straight path.” It is a prayer to help us move away from the extremes and maintain […]

Strange alignment of PKK and government against Hizmet

Close relations between the ruling Justice and Development Party (AK Party) and the terrorist Kurdistan Workers’ Party (PKK), which began with a settlement process over the Kurdish issue, have deepened with a new alliance aimed at destroying the Hizmet movement.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Amnesty: Civil society under massive crackdown in Turkey, Gülen movement main target

I’m ashamed

Calls to boycott Hizmet institutions denting market confidence

We make peace with ourselves as we integrate with the world

Emotional farewell for Turkish teachers

Turkey’s Maarif schools to be funded by Saudi and IDB money

Turks Seen as Sympathetic to US-Based Muslim Cleric Say They Face Threats

Copyright 2026 Hizmet News